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Nov 28, 2012
11/12
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CNBC
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fiscal cliff is such an issue. well, it's because sources of growth at this point are few and far between. >> that is the problem. where is growth going to come from. the one place that looked set for a reasonable 2013 was the u.s. economy. europe flat, china slower probably than this year. but a reasonable set of growth. if you put a 3.5%, 4% of gdp drag on that economy which was only growing at 2, 2.5, you're talking about throwing it into recession. that's why markets are taking heart this morning and equities remain nervous. >> the rhetoric, to avoid the fiscal cliff, taxes go up, dividend tax rates, personal tax rates, corporate tax rates go up, that that itself will cause economic weakness. what do you say to that? how are we supposed to balance the risks of doing things to avoid the fiscal cliff that may also hurt growth? >> one way or the other, there is a problem. if you kick the fiscal cliff down the road, then, you know, you're talking about the u.s. running deficits close to 4% to 5% over the next decad
fiscal cliff is such an issue. well, it's because sources of growth at this point are few and far between. >> that is the problem. where is growth going to come from. the one place that looked set for a reasonable 2013 was the u.s. economy. europe flat, china slower probably than this year. but a reasonable set of growth. if you put a 3.5%, 4% of gdp drag on that economy which was only growing at 2, 2.5, you're talking about throwing it into recession. that's why markets are taking heart...
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Nov 28, 2012
11/12
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CSPAN2
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i believe that we should have been negotiations on the fiscal cliff. of course, that's two things. $500 billion tax increase of the 2001-2003 tax cuts lapse in, and the sequestration of spending restraint. sequestration is a good thing. you can massage it into devoted to saving $100 billion a year reducing the -- >> it's not a common republican 20 because of me a lot of defense cuts spent ahead of the of the conservative caucus, 60%, most conservative guys in the house jim jordan said the own thing worse than this request would be not to have savings. and you saw mitch mcconnell say we are not raising taxes to in the sequestered. so that people have drawn a line in the sand against the idea that we will spend all that -- >> let's try -- >> quickly from -- >> quickly from has to be a c-span. why? because only then would the president have to say, trying to consider what spending cuts what quick cbs hasn't done that. nbc hasn't done the. "washington post" hasn't in the. he is walking around campaigning. point of fact if you look at the savings in his bud
i believe that we should have been negotiations on the fiscal cliff. of course, that's two things. $500 billion tax increase of the 2001-2003 tax cuts lapse in, and the sequestration of spending restraint. sequestration is a good thing. you can massage it into devoted to saving $100 billion a year reducing the -- >> it's not a common republican 20 because of me a lot of defense cuts spent ahead of the of the conservative caucus, 60%, most conservative guys in the house jim jordan said the...
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Nov 24, 2012
11/12
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CNNW
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eye 190
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i'm not done hammering away at the fiscal cliff. it is still the most immediate threat to the country's financial well-being and i will not stop until there's a deal signed on the dotted line. but today i'm going to venture beyond that cliff and look at the possibility of an economic renaissance. one of the brightest rays of sunshine, what i've been calling the golden lining on that storm cloud is the housing market. this week we got even more encouraging news. existing home sales rose more than 2% in october after sagging earlier in the year. they are trending higher. now with sales of homes picking up, the number of homes on the market, the inventory, is falling. inventory, look at that. this is all the way back from december of 2002. this is for the last ten years. inventory is at its lowest level since december of 2002. and that low inventory is putting upward pressure on home prices. the median sales price, that is the price at which half of all homes sold for more and half sold for less. it's not an average. the median home pr
i'm not done hammering away at the fiscal cliff. it is still the most immediate threat to the country's financial well-being and i will not stop until there's a deal signed on the dotted line. but today i'm going to venture beyond that cliff and look at the possibility of an economic renaissance. one of the brightest rays of sunshine, what i've been calling the golden lining on that storm cloud is the housing market. this week we got even more encouraging news. existing home sales rose more...
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Nov 21, 2012
11/12
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KCSM
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he added avoiding a fiscal cliff is essential for the american economy. bernanke says a plan for resolving the nation's longer term budgetary issues without harming recovery could make 2013 a very good year for americans. japan's trade balance for october sank into the red for a fourth straight month. exports plunged due to a slowdown in the global economy and tensions over disputed islands with china. finance ministry officials released preliminary figures shortly before the financial markets opened. last month's deficit came to about $6.7 billion. exports fell by 6.5% from a year earlier. that's in yen terms. japan's exports have fallen for five months in a row. cars and steal led the drop last month. imports also fell by 1.6% from a year earlier. now, by destination europe tumbled by 20% as the region's debt crisis continues to dampen demand. exports to china fell by over 11.5% and anti-japan sentiment dented demand for japanese goods. now let's get a check on the markets. on the tokyo foreign exchange, the dollar is gaining ground against the yen hitt
he added avoiding a fiscal cliff is essential for the american economy. bernanke says a plan for resolving the nation's longer term budgetary issues without harming recovery could make 2013 a very good year for americans. japan's trade balance for october sank into the red for a fourth straight month. exports plunged due to a slowdown in the global economy and tensions over disputed islands with china. finance ministry officials released preliminary figures shortly before the financial markets...
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growth for russia considering everything we've said about oil prices fiscal cliff except. maiden see car there's a lot of might be accelerated in the future interesting year of near future taken in consideration all restraints on political and economic issues so i would expect something similar or even slower for the next year we're going with three and a half percent g.d.p. growth next year we take the view that as you noted the central bank has learned a lot of lessons finance ministry from two thousand and eight of much more flexible currency policy. see free floating against the oil price now which text about just within the budget has enough resources you know to keep kind of current spending in place and that that budget spending can kind of keep the domestic story but you know within a narrow range it also of course handcuffs it means that without reforms most major changes we can't even think about four to five percent g.d.p. growth again but we can look at three three now for the next couple of years three in three and a half not bad in the good really bad but i t
growth for russia considering everything we've said about oil prices fiscal cliff except. maiden see car there's a lot of might be accelerated in the future interesting year of near future taken in consideration all restraints on political and economic issues so i would expect something similar or even slower for the next year we're going with three and a half percent g.d.p. growth next year we take the view that as you noted the central bank has learned a lot of lessons finance ministry from...
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Nov 28, 2012
11/12
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CSPAN
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has been a lot of work on the fiscal cliff. we have talked about medicare savings that can improve and strengthen the program and address rising national health expenditures. we will have more to say on the issue of taxes. we are ecstatic to have senator durbin here today, who has played a fundamental role over the last several years. he has been part of every negotiation that has taken place. he is still an optimist. that is a sign of progress. he has had a long history of being a champion and advocate for the middle class. he has carried that advocacy in the budget negotiations. he was part of the supercommittee, this fiscal, the gang of eight, the gang of six -- almost every gang that has been involved in these issues. he has been a fighter for what is right and for having a plan that stands true to the values of the american people and the people who voted and waited in line for hours on end to vote -- people who want a fair shake out of washington. as a champion of that fair shake, i am excited to have senator durbin. >> n
has been a lot of work on the fiscal cliff. we have talked about medicare savings that can improve and strengthen the program and address rising national health expenditures. we will have more to say on the issue of taxes. we are ecstatic to have senator durbin here today, who has played a fundamental role over the last several years. he has been part of every negotiation that has taken place. he is still an optimist. that is a sign of progress. he has had a long history of being a champion and...
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90
Nov 21, 2012
11/12
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CSPAN2
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eye 90
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janet mentioned the fiscal cliff in one part of the fiscal cliff is these across-the-board spending cuts to take effect january 2nd. it's going to be an 8.2% across-the-board cut in education, job training and health, housing, fbi, air traffic controllers from the food safety, entire range of domestic programs. for education if you count headstart, which is at the department of health and human services a $4.8 billion cut would be the largest education cuts ever in the history of the country. that would just move us -- essentially move us backwards on whether the goal is closing achievement gaps come increasing high school graduation rates, increasing college access and college completion. our biggest challenge in the short-term this lame-duck lame-duck session this to work together with groups like the urban league and national council to come up with a balanced approach to deficit reduction. as genocide, as people who can pay more to do so without balancing the budget on the backs of children and students and working people and low-income people. the other cop couple quick things i wan
janet mentioned the fiscal cliff in one part of the fiscal cliff is these across-the-board spending cuts to take effect january 2nd. it's going to be an 8.2% across-the-board cut in education, job training and health, housing, fbi, air traffic controllers from the food safety, entire range of domestic programs. for education if you count headstart, which is at the department of health and human services a $4.8 billion cut would be the largest education cuts ever in the history of the country....
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Nov 21, 2012
11/12
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CSPAN
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does go off the fiscal cliff. did ben bernanke say anything yesterday about what he could do if the u.s. goes off a cliff in january? guest: he was pretty clear that the fed is doing what it can do now. whatever damaged baby caused by the fiscal cliff, the fed is really going -- is not going to be able to offset that much. it is doing what it can now. if congress does something to make the economy worse, the fed will do whatever it can. it will not have the power to do much to offset whatever damage is done by going off the fiscal cliff. host: thanks so much for joining us this morning. guest: thank you. host: we want to play a few of ben bernanke's comments from yesterday. [video clip] >> the federal budget is on an unsustainable path. the budget deficit which peaked at about 10% of gdp in 2009 and now is 7% of gdp is expected to narrow further in the coming years as the economy continues to recover. the cbo projects that under a plausible set of assumptions, the budget deficit would still be greater than 4% of g
does go off the fiscal cliff. did ben bernanke say anything yesterday about what he could do if the u.s. goes off a cliff in january? guest: he was pretty clear that the fed is doing what it can do now. whatever damaged baby caused by the fiscal cliff, the fed is really going -- is not going to be able to offset that much. it is doing what it can now. if congress does something to make the economy worse, the fed will do whatever it can. it will not have the power to do much to offset whatever...
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Nov 29, 2012
11/12
by
CNBC
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and i worry about it in relative terms to the fiscal cliff. what bothers me about our situation and the situation in europe is that the political forces and the structure of these repairs take a long time, they misdeadlines continually, and they only do something when we get to the brink. we had a mechanism here in the u.s. with the sequestration process and everything got kicked down the road. we have a great opportunity to make major changes for the future and see if those pro formas actually work out as they're supposed to. but we've got to tweak it because that exponential function of increasing the deficit and increasing the aggregate debt against the backdrop ofactuarial certainty is really concerning. so the market seems to be very, very much focused on events and is driven by those reactions as we've seen. there's a lot more volatility creeping in. >> and given what we're talking about, all the risks you've laid out, what's getting some attention is the fact that the vix is now not the above 20 for four straight months. the last time w
and i worry about it in relative terms to the fiscal cliff. what bothers me about our situation and the situation in europe is that the political forces and the structure of these repairs take a long time, they misdeadlines continually, and they only do something when we get to the brink. we had a mechanism here in the u.s. with the sequestration process and everything got kicked down the road. we have a great opportunity to make major changes for the future and see if those pro formas actually...
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Nov 28, 2012
11/12
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CSPAN
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also dick durbin on fiscal cliff negotiations. political will host a discussion of the fiscal cliff with grow from norquist on c- span to add it o'clock a.m. eastern. i not o'clock a.m. eastern, tom foley and others look at lessons from the 1990 budget deal. the president of amtrak and a representative of the united transportation unit will speak about the operations aboutamtrak. >> washington went to harvard law school. at the urging of one of his brothers, he went to illinois. he of thrived after about eight months' journey by ship, state ge coach into a mining town. he boarded himself in a log cabin. he established a law practice. he worked his way up. he became a successful lawyer and got involved politically. he ran for congress and served eight terms. he befriended abraham lincoln from illinois and ulysses s. grant. as they were on the rise, washbourne was a close confidant during the civil war. after grant was elected president, he appointed washbourne secretary of state. washbourne became ill. his family feared for his lif
also dick durbin on fiscal cliff negotiations. political will host a discussion of the fiscal cliff with grow from norquist on c- span to add it o'clock a.m. eastern. i not o'clock a.m. eastern, tom foley and others look at lessons from the 1990 budget deal. the president of amtrak and a representative of the united transportation unit will speak about the operations aboutamtrak. >> washington went to harvard law school. at the urging of one of his brothers, he went to illinois. he of...
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Nov 27, 2012
11/12
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CSPAN2
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. >>> this weekend, you can talk with oklahoma senator tom coburn about the fiscal cliff, affordable care act, and the future of the republican party on senator wrote several books and reports like "the debt bomb," and join our three hour conversation with calls, e-mails, tweets, and facebook comments for senator tom coburn for booktv's "in-depth" on c-span2. >>> next, john roberts on challenges and surprises he had on the high court. last month, he spoke for an hour with students about the supreme court and constitutional law. [applause] >> thank you very much. thank you, and thank you, david, for that gracious introduction, and all of you for a very, very warm welcome. this is my first visit to rice, and i'm already glad that i came. president lee told you i can't talk about anything current, future, or past. [laughter] my remarks will be brief. [laughter] i had the pleasure of knowing david for 35 years. as he mentioned, he was the president back then too of the harvard law review. he's used to holding the reigns of power. a chief justice also holds the reigns of power. the only d
. >>> this weekend, you can talk with oklahoma senator tom coburn about the fiscal cliff, affordable care act, and the future of the republican party on senator wrote several books and reports like "the debt bomb," and join our three hour conversation with calls, e-mails, tweets, and facebook comments for senator tom coburn for booktv's "in-depth" on c-span2. >>> next, john roberts on challenges and surprises he had on the high court. last month, he spoke...
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Nov 28, 2012
11/12
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CNBC
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, falling off the fiscal cliff is the solution. rod jones writes, we are all in this together, revenue needs to be raised more, not less, and cuts are inevitable because of the lack of legislative action. you can go to facebook page there, like us, and become a fan. warren buffett and carol loomis will join us after this break. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going on now -- but hurry, the offer ends soon. [ santa ] ho, ho, ho! [ male announcer ] lease a 2013 e350 for $579 a mo
, falling off the fiscal cliff is the solution. rod jones writes, we are all in this together, revenue needs to be raised more, not less, and cuts are inevitable because of the lack of legislative action. you can go to facebook page there, like us, and become a fan. warren buffett and carol loomis will join us after this break. two years ago, the people of bp made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today,...
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Nov 29, 2012
11/12
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CNBC
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we talked about the fiscal cliff. today we have cliff noran, $154 billion in assets under management. and as joe was saying during the break, we have a little bit of a drinking game. every time we mention fiscal cliff. a lot of viewers are kind of drunk by thousand. >> i'll toast with them. >> are you up in boston? >> springfield, mass. mostly bonds. we specialize in corporate bonds, real estate. >> so what are you doing about the fiscal cliff? >> we think it's actually a good thing because it's addressing something in our country that's gotten out of control. step back the last five years, september 2007, we crossed $9 trillion in debt. thousand we're at $16.2 trillion to $16.3 trillion four years later. five years later. deficits of 1.25 trillion for the last five years. so we have a problem in our country that really needs to be resolved. we've become addicted to stimulus really through deficit spending, through 0% interest rates. >> how are you investing around this? >> we're comfortable investing in corporate bon
we talked about the fiscal cliff. today we have cliff noran, $154 billion in assets under management. and as joe was saying during the break, we have a little bit of a drinking game. every time we mention fiscal cliff. a lot of viewers are kind of drunk by thousand. >> i'll toast with them. >> are you up in boston? >> springfield, mass. mostly bonds. we specialize in corporate bonds, real estate. >> so what are you doing about the fiscal cliff? >> we think it's...
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Nov 27, 2012
11/12
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CNBC
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same with the fiscal cliff. what are we saying with the fiscal cliff? we're saying the economy might be revealed to be what it's actually doing because we'll take away the artificial supports because we think it's held any enough now to maybe after itself. that might entail a step drop because at the moment we're giving these tax breaks, but we're doing it out of our saving. >> but the point isn't just that we have to restore a higher level perhaps of taxes and lower level of spending than we might like. the problem with the u.s. is it gets into that ideological dispute over whether the way to do that should be by cutting spending and raising taxes. so there is an actual sort of fundamental disagreement that underpins this sense of knee jerk -- >> why have we had to do this? we've had to borrow money and cut people 00 taxes and spend more on social services because the underlying private sector economy completely ran out of steam. it ran out of steam because it needs the banking system to feed off. it needs access to trade credit, to business finance, e
same with the fiscal cliff. what are we saying with the fiscal cliff? we're saying the economy might be revealed to be what it's actually doing because we'll take away the artificial supports because we think it's held any enough now to maybe after itself. that might entail a step drop because at the moment we're giving these tax breaks, but we're doing it out of our saving. >> but the point isn't just that we have to restore a higher level perhaps of taxes and lower level of spending...
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Nov 29, 2012
11/12
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FBC
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eye 160
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this is the deal on the fiscal cliff. tax increase now, delay spending cuts, don't worry about the debt. judge napolitano: i wrote a piece this morning on the washington times and a number of venues. argues the republicans probably will cave. notwithstanding the pledge they took, just a political pledge, not legally -- i don't want them to raise taxes but they will. they should remember the peril of recent history. the last american president who said who could forget this? read my lips, no new taxes was dispatched by the voters to a hotel room in houston rather than four more years in the white house because he violated that pledge. george herbert walker bush would keep that pledge today. stuart: always a pleasure. we say it every day on "varney and company," time is money. we mean it. i especially mean it. my take on punctuality next. twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core,
this is the deal on the fiscal cliff. tax increase now, delay spending cuts, don't worry about the debt. judge napolitano: i wrote a piece this morning on the washington times and a number of venues. argues the republicans probably will cave. notwithstanding the pledge they took, just a political pledge, not legally -- i don't want them to raise taxes but they will. they should remember the peril of recent history. the last american president who said who could forget this? read my lips, no new...
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Nov 21, 2012
11/12
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CSPAN2
tv
eye 99
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people talk about fiscal cliff. the aggregate several things. that's collapsing tax cuts. that's one piece of it. second piece is d.c. sequestration. cut from the increases, plan increases in the budget if these are not cuts the way you or i think of cuts. either budgets increasing increasing not as rapidly as the various agencies would like them to go up. 50 billion of that out of national defense or out of the pentagon, and 50 billion of that comes out domestic discretionary and then there's a third subject, and that it should be a grand bargain to trade higher taxes for entitlement reform. and those are the three. been putting forth one out there, which is we get the debt ceiling at some point and we will continue to hit it. how will the republicans keep obama on a short leash and give him an allowance every month, in return for better behavior, the way you do with your kids. or other really going to let, give him a debt ceiling that goes a long time. what's going to happen? one option is look to history. two years ago we face exactly this situation on collapsing tax cu
people talk about fiscal cliff. the aggregate several things. that's collapsing tax cuts. that's one piece of it. second piece is d.c. sequestration. cut from the increases, plan increases in the budget if these are not cuts the way you or i think of cuts. either budgets increasing increasing not as rapidly as the various agencies would like them to go up. 50 billion of that out of national defense or out of the pentagon, and 50 billion of that comes out domestic discretionary and then there's...
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Nov 21, 2012
11/12
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CSPAN2
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framing it up a little bit, the fiscal cliff issue we talk about all day here, and talking about all week, is really important, and i we have to make progress w towards a sustainable budget, and there's a lot of experts sitting here why it's important. based on our work, there is a much broader competitiveness problem facing the u.s. right now. it's been building for decades. it's not something new. it's not a recession. it's been building for decades, and it's sapping the ability of the american economy to grow, and it's sapping the ability of the standard of living for the average american to rise, and unless we start tackling the real core issues that are making the u.s. less competitive and less attractive for locations for business, we'll go back to the fiscal cliff discussion over and over again. unless we get the economy moving and growing in the long run, these budget problems just are going to recur over and over again. based on our work, we have identified eight areas, as you mentioned, where we find broad consensus where we believe that these things would really move the n
framing it up a little bit, the fiscal cliff issue we talk about all day here, and talking about all week, is really important, and i we have to make progress w towards a sustainable budget, and there's a lot of experts sitting here why it's important. based on our work, there is a much broader competitiveness problem facing the u.s. right now. it's been building for decades. it's not something new. it's not a recession. it's been building for decades, and it's sapping the ability of the...
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Nov 23, 2012
11/12
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MSNBCW
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is it the fiscal cliff? or does it look like the fiscal bungee cord? that's what some people are calling it. we go over for two weeks and then we snap back and get a deal and what does that deal look like? >> a lot of positive talk following the election. even bill kristol talking about let's feel free to raise taxes if it's part of a bigger deal. a lot of elections don't have consequences, midterm elections. this was supposed to be a status quo election. but something happened here. i think the fever is starting to break. >> absolutely. you're going to see it, i think, on immigration reform, and i think you're going to see it on spending and taxation. and you don't have to effect or change basic tax rates. as you know, there's all sorts of things you can do on so-called tax expenditure dealing with home mortgage deductions, dealing with state and local taxes. also there's things obviously on the spending side, entitlements and domestic spending, this isn't that hard. this is, if you will, a mini-package. this isn't necessarily on the scale of simpson-
is it the fiscal cliff? or does it look like the fiscal bungee cord? that's what some people are calling it. we go over for two weeks and then we snap back and get a deal and what does that deal look like? >> a lot of positive talk following the election. even bill kristol talking about let's feel free to raise taxes if it's part of a bigger deal. a lot of elections don't have consequences, midterm elections. this was supposed to be a status quo election. but something happened here. i...
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Nov 26, 2012
11/12
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CSPAN
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kruger said, does the white house have an opinion on the fiscal cliff divers? is it you guys asking them not to do this? are they wrong? >> we are engaged in a process that has the goal of achieving bipartisan compromise. we believe that the best answer for the economy is to reach compromise before the end of the year. it is effectively laid out, one of the reasons we addressed this issue. the impact of raising taxes on the middle-class, for example, and the impact it would have on consumer confidence, retailers, and overall spending. the president's approach has always been -- was best for the economy? though class? what will keep it up for stronger economic growth and job creation. that was how big a hole was at the depths of recession. his primary objective as president has been and will continue to be strengthening the middle-class, creating more opportunities for people to aspire to the middle-class, to get there. it is certainly his position that these are solvable problems. >> you are saying to let it all go until after the new year. >> our interest is i
kruger said, does the white house have an opinion on the fiscal cliff divers? is it you guys asking them not to do this? are they wrong? >> we are engaged in a process that has the goal of achieving bipartisan compromise. we believe that the best answer for the economy is to reach compromise before the end of the year. it is effectively laid out, one of the reasons we addressed this issue. the impact of raising taxes on the middle-class, for example, and the impact it would have on...
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237
Nov 21, 2012
11/12
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KTVU
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eye 237
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the so-called fiscal cliff. bernanke says without a deal, the fiscal cliff could trigger a recession next year. congress must act by january 1st in order to avoid the automatic tax increases and spending cuts. >>> happening right now, a court hear something underway. a bankruptcy judge is expected to decide on a motion to allow hostess to liquidate. the hearing comes after hostess failed to reach a deal with its striking bakers union. more than 18,000 people are expected to lose their jobs if hostess goes out of business. >>> well, the labor department released the weekly job report a dayer -- a day early. first-time claims for unemployment bennetts fell. the number is still higher -- benefits fell. the number is still higher than expected because of hurricane sandy. 410,000 filed -- filed for benefits. >>> and when the giants will' tickets will be -- and when the giants' tickets will be going on sale. >>> and sal is coming back one more wednesday morning commute check for the before the thanksgiving holiday. -w
the so-called fiscal cliff. bernanke says without a deal, the fiscal cliff could trigger a recession next year. congress must act by january 1st in order to avoid the automatic tax increases and spending cuts. >>> happening right now, a court hear something underway. a bankruptcy judge is expected to decide on a motion to allow hostess to liquidate. the hearing comes after hostess failed to reach a deal with its striking bakers union. more than 18,000 people are expected to lose their...
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97
Nov 28, 2012
11/12
by
CSPAN2
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eye 97
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president, i rise to say we need a sense of urgency about solving the fiscal cliff. we need to end the culture of delay in this institution. i'm very concerned that as we talk about solving the problems of the fiscal cliff, there is this whole dynamic going on, there is this whole patina going on, there is this whole from staff level to senators, it's oh, we're going to be here until christmas eve. i think that is a disaster. i think it's a disaster for our economy. i think it's a disaster for our demonstration of our ability to govern, and i think it's a disaster for our standing in the world. we need to show that we can govern ourselves and we can put ourselves on a sound fiscal path with the right combination of growth, frugality and ensuring a safety net to the most vulnerable of our citizens. so i am here to say to my colleagues from both sides of the aisle, both sides of the dome and even the white house, let's get the job done. mr. president, i propose let's really conscientiously work hard to make sure that we have a framework that we could vote on, mr. presi
president, i rise to say we need a sense of urgency about solving the fiscal cliff. we need to end the culture of delay in this institution. i'm very concerned that as we talk about solving the problems of the fiscal cliff, there is this whole dynamic going on, there is this whole patina going on, there is this whole from staff level to senators, it's oh, we're going to be here until christmas eve. i think that is a disaster. i think it's a disaster for our economy. i think it's a disaster for...
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122
Nov 29, 2012
11/12
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CSPAN2
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eye 122
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. >> you can talk to oklahoma senator tom coburn about the fiscal cliff, the affordable care act and the future of the republican party on booktv's in death. the senator has written several books and reports including his latest, the debt bomb. join our three our conversation, your calls, e-mails, tweets, for senator tom coburn at noon eastern on booktv's in depth on c-span2. >> now a forum on the rule of law in sino, a panel that includes u.s. ambassador to china and jon huntsman. we will show as much as we can until our live event at 8:30 eastern. [applause] >> thank you for that very kind introduction. i have a great honor of being a distinguished fellow here at brookings but i can tell with justice brier and with these distinguished legal experts appear there's nothing distinguished about me at all. today i come pretty much as a regular fellow as opposed to any kind of distinguished fellow. what we have ahead is a great presentation by some people you will find interesting, about development of the rule of law in china. i wanted to offer a few introductory comments on the china r
. >> you can talk to oklahoma senator tom coburn about the fiscal cliff, the affordable care act and the future of the republican party on booktv's in death. the senator has written several books and reports including his latest, the debt bomb. join our three our conversation, your calls, e-mails, tweets, for senator tom coburn at noon eastern on booktv's in depth on c-span2. >> now a forum on the rule of law in sino, a panel that includes u.s. ambassador to china and jon huntsman....
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Nov 21, 2012
11/12
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he said going over the fiscal cliff would pose a substantial risk to the economy. according to a new study the fiscal cliff could give 90% of americans new tax bills when the bush tax rates and some by president obama would both end. the working poor would be among the hardest hit. a tax policy center analysis showed a married couple making about $30,000 a year would on average go from receiving a $15 tax credit to owing $1400. >> wow. >> yeah. that's probably a reason to try and get something done? >> maybe we will. maybe we will. >> you would think. >> yeah. or maybe we can just talk about 2016. >> we could do that as well. how are you doing, willie? >> i'm doing well. >> good. just two weeks after the longest -- >> thanks for stopping by. >> doing well. >> you know, just two weeks after the longest, most expensive and exhausting election in u.s. history eyes are turning to 2016 as speculation begins over the next batch of candidates lining up to run for president. >> who could that be? i know it's going to be a surprise. >> i know it is too. we're moving past th
he said going over the fiscal cliff would pose a substantial risk to the economy. according to a new study the fiscal cliff could give 90% of americans new tax bills when the bush tax rates and some by president obama would both end. the working poor would be among the hardest hit. a tax policy center analysis showed a married couple making about $30,000 a year would on average go from receiving a $15 tax credit to owing $1400. >> wow. >> yeah. that's probably a reason to try and...
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Nov 21, 2012
11/12
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"rough start for fiscal cliff talks." looked like everything was going really well after that first meeting. now that the dealing is really getting under way, the sources tell politico neither side seems actually all that serious. what's going on here? >> our reporting shows that despite the politics of the seeming to suggest that a deal should be struck and despite the meeting that happened with the congressional leaders at the white house last week that had everybody walk out of it and use the word constructive and talk about how nice the meeting was, when they've gotten down to brass tacks and what would have to be done and where the tax rates would need to be raised and where the cuts to medicare and medicaid would need to be, both sides seem unwilling to believe that the other side is really serious about making the changes that then. >> ben bernanke weighed in on this yesterday. let me play that for you. >> indeed, by the reckoning of the congressional budget office, the cbo, and that of many outside observers, a fi
"rough start for fiscal cliff talks." looked like everything was going really well after that first meeting. now that the dealing is really getting under way, the sources tell politico neither side seems actually all that serious. what's going on here? >> our reporting shows that despite the politics of the seeming to suggest that a deal should be struck and despite the meeting that happened with the congressional leaders at the white house last week that had everybody walk out...
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Nov 22, 2012
11/12
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not going into this deep due to the fiscal cliff. and also signs of improvement in asia. >> meanwhile the french pmi says the survey there suggests a 0.7% gdp drop in quarter 4 for france. >> that seems quite large. we've seen in recent quarters numbers out of front which were higher than suggested by the pmis, however, they then revised down q2. so i'm looking for a contraction of 0.3 in france quarter on quarter in q4. >> what's going to change things, ricardo, what will turn things around? >> i think on the policy front, not much one can effect. fiscal policy will remain tight next year. the ecb doesn't have a huge margin to ease policy. i'm expecting that they will cut the refinancing rate. but i don't think it will go to negative rates for now. so they can only do perhaps 25 basis points on the main refinancing rate. the omt bond buying facility can only be activated if one of the countries apply. and it doesn't look like neither spain nor italy will apply anytime soon. and anyway the bond yields have declined quite a bit compar
not going into this deep due to the fiscal cliff. and also signs of improvement in asia. >> meanwhile the french pmi says the survey there suggests a 0.7% gdp drop in quarter 4 for france. >> that seems quite large. we've seen in recent quarters numbers out of front which were higher than suggested by the pmis, however, they then revised down q2. so i'm looking for a contraction of 0.3 in france quarter on quarter in q4. >> what's going to change things, ricardo, what will...
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Nov 24, 2012
11/12
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the fiscal cliff elapsing tax cuts. the second piece is the sequestration. $100 billion a year being sequestered from the increases in the budget. these are not cuts the way you or i think of cuts. these are budget increasing not as rapidly as the various agencies will buy them to. the $2 billion of that is out of national defense and $30 billion of that at the domestic discretionary -- $50 billion of that is out of national defense and $50 billion of that is domestic discretionary. will the republicans keep obama on a short leash and give him an allowance every month in return for better behavior or will they give him a debt ceiling that goes along time? what will happen? one option is looked to history. two years ago we faced exactly this situation, the 2001 2003 tax cuts all lapsed. we had a republican house coming in, and democratic senate and democratic president. why would that not the way you do? obama says i will hold my breath until i turn blue and stamp my feet. 2 years ago he said he did not want to raise tax
the fiscal cliff elapsing tax cuts. the second piece is the sequestration. $100 billion a year being sequestered from the increases in the budget. these are not cuts the way you or i think of cuts. these are budget increasing not as rapidly as the various agencies will buy them to. the $2 billion of that is out of national defense and $30 billion of that at the domestic discretionary -- $50 billion of that is out of national defense and $50 billion of that is domestic discretionary. will the...
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Nov 22, 2012
11/12
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do those plans have to change to reflect the looming budget cuts and we have been talking about the fiscal cliff this morning. >> guest: one of the things we need to do is massively cut the military budget across-the-board. the hard part is when it comes to bases in the united states because those bases always provide some kind of jobs in the local community and it makes it harder for members of congress. not the case for bases abroad. we could close almost all of them and not make us any less safe. the bases abroad don't make us any less safe. sending contractors to take a place of soldiers don't keep us safe are going to cut all of that and use the money to help those countries build their own economies and bring the money home for health health health cr jobs to rebuild the environment here at home. >> host: phyllis bennis from the institute for policy studies, appreciate you coming by. >> guest: thank coming up next to discussion among baby boomers and encore careers. marc freedman with a new book "the big shift" navigating the new stage beyond midlife talks about the need for savings
do those plans have to change to reflect the looming budget cuts and we have been talking about the fiscal cliff this morning. >> guest: one of the things we need to do is massively cut the military budget across-the-board. the hard part is when it comes to bases in the united states because those bases always provide some kind of jobs in the local community and it makes it harder for members of congress. not the case for bases abroad. we could close almost all of them and not make us any...
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Nov 25, 2012
11/12
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this is not my choice. >> maybe obama ought to make bill clinton is fiscal cliff envoy? >> i thought he did? >> this is important. to bridge that experience. first of all, veterans in leadership. secondly, i want to go back to that thought. we have to be more outwardly focused. we have given up engaging in africa and around the globe. with all the income growth out there, having those ties helps us in defense issues and other things. we are not doing that now. >> one of the easiest places to get republican support for a new agenda, so maybe it, we get it right, but -- what would a new american renewal agenda be comprised of? >> let's negotiate a trade agreement. president obama is the first president to not negotiate one. >> south korea. >> they were negotiated in the previous administration. we have an opportunity right now in europe and asia to knock down barriers, tariff and non- tariff barriers and you would get overwhelming support for that. it would have been tougher in the first term. this is a time to move on from that. the only point i would disagree with my goa
this is not my choice. >> maybe obama ought to make bill clinton is fiscal cliff envoy? >> i thought he did? >> this is important. to bridge that experience. first of all, veterans in leadership. secondly, i want to go back to that thought. we have to be more outwardly focused. we have given up engaging in africa and around the globe. with all the income growth out there, having those ties helps us in defense issues and other things. we are not doing that now. >> one of...
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Nov 26, 2012
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cliff. that is tonight at 8:00 eastern on c-span. congress returns from a week long thanksgiving break this week. the house is back tomorrow to debate a number of bills. a major bill comes up on thursday when they will consider a visa program for students getting advanced degrees and computer science, engineering and mathematics. off the floor, democrats plan to let new leadership. that is scheduled for thursday. you can see the house tomorrow on c-span. the senate is back today at 2:00 eastern. they will finish work on what is called the sportsman bill, expanding hunting and fishing on federal lands. that begins at 5:30 eastern. you can see the senate live on our companion network, sees that2 -- c-span2. >> you listen to mayor bloomberg who says the damage was unprecedented. the previous high was 10 feet. for this high, the tidal surge was 14 feet. gov. chris christie said that the damage was unthinkable. at fires, hurricane force wind, massive flooding, some of. -- massive fires, hurricane
cliff. that is tonight at 8:00 eastern on c-span. congress returns from a week long thanksgiving break this week. the house is back tomorrow to debate a number of bills. a major bill comes up on thursday when they will consider a visa program for students getting advanced degrees and computer science, engineering and mathematics. off the floor, democrats plan to let new leadership. that is scheduled for thursday. you can see the house tomorrow on c-span. the senate is back today at 2:00...
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Nov 28, 2012
11/12
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plight that we are in in careening toward the cliff. in deference to his colleagues, the time frame here, he said he understands that it will be virtually unanimous vote, despite his question, which is legitimate. i think we all ought to consider. but that was rejected. the response to somebody, i think, who was trying to be deferential to the senator from vermont and his proposals sort of is put in the position where it looks like he's not trying to be conscious of the situation that exists here. i just think he asked a legitimate question that all of us, given our current fiscal situation, ought to give due consideration to. with that, i yield back and thank the senator from arizona. the presiding officer: the senator from vermont. mr. leahy: i would note that this is not an expansion by any means. simply reforms that's already law and adds no cost -- no cost, no federal cost. if i could have the attention of the senator from indiana. this is not an expansion. it is a reform of programs we have. it is of no cost to the federal taxpaye
plight that we are in in careening toward the cliff. in deference to his colleagues, the time frame here, he said he understands that it will be virtually unanimous vote, despite his question, which is legitimate. i think we all ought to consider. but that was rejected. the response to somebody, i think, who was trying to be deferential to the senator from vermont and his proposals sort of is put in the position where it looks like he's not trying to be conscious of the situation that exists...
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Nov 25, 2012
11/12
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. >>> fiscal cliff negotiations kick off this week. today two more republicans who previously refused to consider tax hikes are
. >>> fiscal cliff negotiations kick off this week. today two more republicans who previously refused to consider tax hikes are
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Nov 24, 2012
11/12
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. >> woodruff: when you talk about the fiscal cliff are the deadline is supposed to be january 1, but you've been out there talking about what can be done about that. among other things, you're saying taxes should go-- in other words, the bush tax cuts should be allowed to expire on everyone under $500,000. which is more than what the president is saying. he's saying it ought to be at 250. yet difference? and have you tukd him about that? >> sure, yeah, yeah, it was over 500, not under 500. yeah, i-- that position, judy, is one that i put on the table a year ago. and i'll tell you why. there isn't anything sort of theological about the $500,000 number. it's just a compromise. the democrats' position has been tax cuts to expire over 250. the republicans' position has been make all the tax cuts permanent. so a year ago i put a of a compromise on the table. if that compromise were accepted, it would raise $500 billion in revenue over the next 10 years, which would take the potential trillion-dollar sequester and cut it in half. and there arar a couple of other steps i put on the table du
. >> woodruff: when you talk about the fiscal cliff are the deadline is supposed to be january 1, but you've been out there talking about what can be done about that. among other things, you're saying taxes should go-- in other words, the bush tax cuts should be allowed to expire on everyone under $500,000. which is more than what the president is saying. he's saying it ought to be at 250. yet difference? and have you tukd him about that? >> sure, yeah, yeah, it was over 500, not...
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Nov 21, 2012
11/12
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whether or not they come together across party lines to deal with the fiscal cliff in a way that makes sense, whether they pass in immigration bill that makes sense for the country, those would be good signs. >> what was your immediate thinking about paul ryan and where did you end up thinking? >> my immediate was i cannot believe they're going to do this. just -- i -- axelrod always thought it was going to be paul ryan. >> he did not. he thought it was going to be tim pawlenty. >> ax looked at me and said they are going to pick paul ryan. at the time i thought to myself, they're going to spend a lot of time on defense on medicare, medicaid, all whole bunch of issues. >> they were not divisive issues. >> did you see how close florida was? i think they spent some time defending it. we obviously thought it was important. we air anded several labs -- aired several ads. i thought he added some youth and energy. they had a base concerns and he helped those. so i am not criticizing the pick i just think there were other -- >> you are. >> i was giving an assessment of the good and bad. >> was
whether or not they come together across party lines to deal with the fiscal cliff in a way that makes sense, whether they pass in immigration bill that makes sense for the country, those would be good signs. >> what was your immediate thinking about paul ryan and where did you end up thinking? >> my immediate was i cannot believe they're going to do this. just -- i -- axelrod always thought it was going to be paul ryan. >> he did not. he thought it was going to be tim...